FIFA drops $4.2 billion World Cup stake sale after backlash
What's next: UEFA, Concacaf and other federations are weighing moves that could force a confidence vote on Gianni Infantino.
FIFA abandoned a plan to sell a roughly 20% stake in future World Cup and tournament profits after a revolt from soccer federations and senior officials put President Gianni Infantino under fresh pressure. The proposal would have created FIFA Forward Enterprise, a subsidiary for commercial rights including broadcasting, sponsorship, tickets and hospitality, and sought to raise $4.2 billion from investors at a $20 billion valuation. Joshua Kushner's Thrive Eternal was set to be the anchor investor. UEFA threatened to boycott FIFA competitions, Concacaf called for a full review of FIFA leadership, and even some allies pulled back, leaving Infantino facing possible emergency action before his reelection vote in March.